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Tata Steel @ 303.. Sell or Hold ?

Discussion in 'Technical Analysis' started by naveen1241, May 7, 2013.

  1. naveen1241

    naveen1241 Responder

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    Tata Steel @ 303.. Sell or Hold ?
     
    naveen1241, May 7, 2013
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  2. srspriya06

    srspriya06 Active Member

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    Tata steel forms W pattern.. Today it is traded at a high of 325. If it crosses 325 it may move upto 360 levels.
     
    srspriya06, May 7, 2013
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  3. shabbir

    shabbir Administrator Staff Member

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    Yes but this W is formed very rapidly. 3 Month fall from 440 to 290 and W is just very small and formed in a month and so I would bet this is upswing in the long downtrend. Can trade against the trend pattern though
     
    shabbir, May 7, 2013
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  4. naveen1241

    naveen1241 Responder

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    Thanks Shabbir... understood the difference in patterns... But I didn't get this - 'Can trade against the trend pattern though' ?
    Do you mean going SHORT or i misunderstood?
     
    naveen1241, May 7, 2013
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  5. naveen1241

    naveen1241 Responder

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    Thanks. Priya
     
    naveen1241, May 7, 2013
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  6. vishuhd1

    vishuhd1 Member

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    The trend in this stock is downwards (i.e. 440 to 290) and by trading against the trend, Shabbir is suggesting you that you can take long positions, but you need to watch for stop losses..
     
    vishuhd1, May 7, 2013
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  7. naveen1241

    naveen1241 Responder

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    Thanks vishu. That was an impulse question. Thanks for your explanation :) Can't make out why I didn't get it right by reading.
     
    naveen1241, May 7, 2013
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  8. vishuhd1

    vishuhd1 Member

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    You are welcome.. :)..
     
    vishuhd1, May 7, 2013
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  9. shabbir

    shabbir Administrator Staff Member

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    Meant this - http://shabbir.in/trade-against-market-trend/
     
    shabbir, May 7, 2013
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  10. srspriya06

    srspriya06 Active Member

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    My Pleasure!
     
    srspriya06, May 8, 2013
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  11. pravin_g

    pravin_g New Member

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    Seems like breakdown is round the corner. This stock can be shorted below 293 with a sl of 310.
     
    pravin_g, Jun 3, 2013
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